Should Homeowners Fix Their Roof Before Selling Their Home?
If you're planning on putting your house on the market soon, but your roof is damaged, should you bother with replacing or fixing it? There are a few factors that could swing your decision either way.
It's also wise to call in a contractor to get them to do a full inspection, so you know the extent of the issues. You want to avoid the cost of a repair or reroofing project, but some things are worth doing before you sell. Others can be negotiated with buyers in the sale of the house.
If a big hole in the roof is causing a major leak, you'll need to repair this. You can’t dodge this responsibility. Water damage can cause mould and damp issues in the walls and can negatively affect the offers you’ll get for your property. Water damage is a red flag to people looking at your home. You may even put off potential buyers unwilling to invest in a property that needs the roof repaired.
It may feel to you like an unnecessary cost, but it’s actually a sound investment that will pay off. Experts in the roofing industry estimate that by repairing your roof before a sale you'll recoup about two-thirds of the cost back. So you'll need to cough up a bit of money initially to do the repair, but you'll reap the benefit by getting a better deal from the final buyer.
Those in the property game also say that you can't underestimate "curb appeal" when it comes to selling your home. This is how your house appears to someone inspecting your property. A clean and well-maintained roof can represent up to 40% of a home's "curb appeal," they say. The material that is used on your roof can also have an impact. Whether its wood, slate, flagstone, metal, plastic, or composite material such as fibre cement, your roof will attract more buyers and boost your resale prospects by five percent if it looks good. Investing in a new roof could be the clincher that gets you a top price for your home, and you can even use this fact as part of your marketing campaign.
If your roof only needs a minor repair you can weigh up whether it’s worth the cost and hassle for you. A certified roof contractor will be able to assess the extent of any problems and point out any issues that would be of concern to potential buyers. Ask the roofer for a quote to fix the roof. This could be passed on to your buyer, so they have an idea of what further investment they're in for when they purchase your house. It's also comforting for potential buyers to know that you have investigated the potential issues and they won't be faced with nasty surprises when they move in.
Another thing to consider is the buoyancy of the property market. If the market is sluggish and you see homes in your area are for sale for many months, you need to do everything you can to make your home as appealing as possible. With a lot of choice on the market, potential buyers may prefer to buy a property that has a new or sound roof. Not everyone wants a fixer-upper, and many buyers would prefer to invest money on a renovation of the interior of a home than basics such as the roof. When faced with the choice over two properties, they're most likely to go for the one that’s in move-in condition and won’t present them with any nasty surprises when rain hits the home.
